Has the future of wellness technology arrived with a new wearable device built on the Solana blockchain? This innovation enables users to take control of their health data by storing it on the blockchain, providing them with the opportunity to profit from its use.
An option for paraphrasing this sentence in a natural and easy-to-read way could be: The Cudis ring, created by BeatBit Wellness Lab, is gaining attention as a Web3 competitor to the widely acclaimed Oura ring that has recently revolutionized the health and wellness sector.
Using Decentralized Physical Infrastructure Network (DePIN) tech, users can now earn money by sharing their anonymized health info. This data gets circulated within the system to enhance personalized health recommendations based on collective insights.
Mental and physical wellness information is encrypted and kept anonymous on InterPlanetary File System (IPFS) following its indexing on the Solana blockchain. This confidential data serves as the foundation for creating custom AI modules that generate unique insights tailored to individuals’ mental and physical health based on this anonymized data.
Edison Chen, CEO of Cudis, shared with CryptoMoon that their priority for Web3 wearables is putting users at the forefront.
He pointed out that conventional smart ring businesses keep and process user health information on their own servers for analyzing it via an app, offering personalized health tips. However, there’s a possibility that they make profits from this data without giving users any financial compensation.
“We’re empowering individuals to take control of their own health data.”
The ring he mentioned tracks heart rate, sleep patterns, stress levels, strain, and calories burned. Initially, users will earn points for sharing this data, which can later be converted into monetary tokens.
Chen explained that users looking for advanced features and customized wellness app experiences frequently have to pay additional fees. But, “blockchain tech presents an ideal alternative,” capable of transforming this payment structure.
Based on the statement from the wearable’s official announcement, around 200 people had the opportunity to try it out during an event at Solana Hacker House. The plan is to release the first 10,000 units in the second quarter of 2024.
DePINs continue gaining traction in the Web3 space, with new use cases rapidly emerging.
In early 2024, decentralized finance experts anticipated that Decentralized Prediction Markets (DePins) and Artificial Intelligence (AI) would make an unstoppable team, revolutionizing the decentralized finance sector.
DePINs are already being used to revolutionize internet access in India, weather data collection worldwide and farmers’ connection with consumers.
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2024-04-17 16:11